Daily Dispatch


2016 REAL RATE REPORT

Best Way to Maximize Your Law Firm’s Profits

Analysis of a new report on $19.6 billion of approved legal department invoices reveals that to maximize firm profits, partners should focus on developing and retaining senior associates and providing clients with services in multiple practice areas. The reasons: First, the average year-over-year hourly rate increase in 2015 for associates was 7.3 percent — more than double the 3.6 percent rate increase for partners. Second, firms that provide clients legal services in multiple practice areas charge higher than average rates for most, if not all, of their services.Read The Rest

Ask the Legal Marketing Association Experts

Communicating with Millennials: What’s the Preference?

millennials

Question: “A growing number of millennials are joining older generations in law firms. What are generational communication differences, why do they matter, and can understanding them improve performance across our firm?” In this edition of “Ask the Experts from the Legal Marketing Association,” Jonathan Fitzgarrald says it’s time to assess your firm’s generational “markers.”Read The Rest


TECH TIPS

Tips and Takeaways from ABA TECHSHOW 2017

Last week, we shared highlights of ABA TECHSHOW’s exposition hall, with a big list of what’s new in legal technology. Today, top practice management technology pros (including faculty and former ABA TECHSHOW chairs) share their personal favorite tips and takeaways from the programs and presentations.

Here are picks from Jim Calloway, Darla Jackson, Natalie Kelly, Tom Lambotte, Sharon Nelson and John Simek, Nora Regis, Deborah Savadra and Reid Trautz.Read The Rest


Play to Win

Marketing with a Purpose: Set Objectives

I recall a lawyer friend of mine telling me with excitement that he had been successful in setting up lunch with an assistant general counsel of a target company. Afterward, when I asked what he had accomplished, he said, “We had lunch.” My next question was, “What did you hope to accomplish?”

Sometimes lawyers get so caught up in “touches” that they forget each touch needs a purpose. They get so excited about speaking or writing opportunities that they forget each activity needs a strategy.Read The Rest


Product Beat

What’s New in Legal Technology? ABA TECHSHOW 2017

ABA TECHSHOW has been the place to learn what’s new in legal technology for more than 30 years — particularly on the small firm side. Last week in Chicago, we scoped out the ABA TECHSHOW 2017 exposition hall. Here are a few highlights, including entrants in a pre-show “Startup Competition.” Read The Rest


Managing

Referral Madness! Stay on Top of Staying in Touch

managing

This is something old-school lawyers say a lot: “Your best sources of referrals are your existing clients.” And, for word-of-mouth, referral-based law firms, it’s probably true that referrals from other lawyers or from existing clients are 1-2. However, your existing clients will only remain good referral sources if you determine to stay in contact with them, making your desire for receiving their referrals known — and not in some indirect way, either.Read The Rest


Get It Done

Believing in Your ‘Why’ Can Lead to Joy

I’ll begin by pulling the Band-Aid off quickly: After 15 years, I’m leaving the e-discovery space. For those who know me, this will come as a really big surprise — especially given my longtime social media moniker “eDiscovery Gold.” In truth, the decision was surprisingly easier than I expected. It was easier because of my strong personal mission statement, vision, values and beliefs.Read The Rest